I am listening to the live debate in the House of Commons about the vote, which just took place voting down a “no-deal Brexit,” 321-278, close enough to make us a little nervous. Some MPs are up in arms that the vote is “indicative” and not policy.
Does the will of the House trump the will of the people? – MP of British House of Commons
We ask you again, are you surprised that in our post-Truth world we live that all things are indicative, nothing matters, nothing is binding, alternative facts, fake news, and now fake athletes?
You can now redefine your child, for a $400K bribe, as a football placekicker, and get him into Stanford. Man, I smell pitchforks on this one! AOC will be on the warpath.
Article 50 Extension Vote Tomorrow
The House of Commons votes tomorrow on extending the Article 50 March 29th deadline to leave the EU.
You know where we stand.
Big buyers of cable (pound/dollar) all year, as we believe the MPs will eventually have to take this debate to the people, which the remainers should win overwhelmingly. Cable up almost 2 percent today and closing in on its 6-month high. The pound is trading like an EM currency, now up almost 5 percent for the year, which is causing the export-heavy FSTE to significantly lag DM stock markets year-to-date.
Coming “Summer Political Discontent?”
There will be some political instability into a second referendum vote as the Brexiteers take to the street. Depending on how things shape up with President Trump’s legal troubles, we may be moving into a transatlantic “summer of discontent,” where the U.K. and U.S. experience a bout of political and social instability.
Hey, we are always nervous and on the lookout for off-the-radar tail events.
French British dip in cable, and keep the above on your radar.